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Archive - 2011-09-03
First ODI falls victim to rain
Cricket

First ODI falls victim to rain

CHESTER-LE-STREET : The first one-day international between England and India was abandoned as a no result here on S
Published 03 Sep, 2011 06:03pm
Heavy rains damage cotton crop in Sindh
Top News

Heavy rains damage cotton crop in Sindh

KARACHI: At least 40 percent of cotton crop has been damaged in Sindh due to torrential rains, causing flood in lower pa
Published 03 Sep, 2011 12:45pm
Heavy rains forecast for next three days

Heavy rains forecast for next three days

The Met Office on Friday warned that more widespread heavy monsoon rains in Sindh, including Karachi, southern Punjab and eastern parts of Balochistan are expected during the next three days (Saturday to Monday). 'Heavy' to 'very heavy' rains would genera
Published 03 Sep, 2011 12:00am
Edible oil sector: FBR detects new techniques of tax evasion

Edible oil sector: FBR detects new techniques of tax evasion

The Federal Board of Revenue (FBR) has detected different techniques of tax evasion by the edible oil sector, including commercial importers and manufacturers of ghee and cooking oil units, whereas all Chief Commissioners of Large Taxpayer Units (LTUs) an
Published 03 Sep, 2011 12:00am
Edible oil sector: FBR detects new techniques of tax evasion

Edible oil sector: FBR detects new techniques of tax evasion

The Federal Board of Revenue (FBR) has detected different techniques of tax evasion by the edible oil sector, including commercial importers and manufacturers of ghee and cooking oil units, whereas all Chief Commissioners of Large Taxpayer Units (LTUs) an
Published 03 Sep, 2011 12:00am
Edible oil sector: FBR detects new techniques of tax evasion

Edible oil sector: FBR detects new techniques of tax evasion

The Federal Board of Revenue (FBR) has detected different techniques of tax evasion by the edible oil sector, including commercial importers and manufacturers of ghee and cooking oil units, whereas all Chief Commissioners of Large Taxpayer Units (LTUs) an
Published 03 Sep, 2011 12:00am
Ogra empowered to revoke failed companies' licences

Ogra empowered to revoke failed companies' licences

Under new LPG policy, the Oil and Gas Regulatory Authority (Ogra) has been empowered to revoke licences of those who would fail to demonstrate firm supply commitment of minimum 5 tons per day for a period of 3 consecutive years.
Published 03 Sep, 2011 12:00am
Ogra empowered to revoke failed companies' licences

Ogra empowered to revoke failed companies' licences

Under new LPG policy, the Oil and Gas Regulatory Authority (Ogra) has been empowered to revoke licences of those who would fail to demonstrate firm supply commitment of minimum 5 tons per day for a period of 3 consecutive years.
Published 03 Sep, 2011 12:00am
Ogra empowered to revoke failed companies'' licences

Ogra empowered to revoke failed companies'' licences

Under new LPG policy, the Oil and Gas Regulatory Authority (Ogra) has been empowered to revoke licences of those who would fail to demonstrate firm supply commitment of minimum 5 tons per day for a period of 3 consecutive years.
Published 03 Sep, 2011 12:00am
Russia gets base deal

Russia gets base deal

Russia agreed with Tajikistan on Friday to extend the deployment of its military base in the country, a move likely to boost Moscow's influence in Central Asia after the pullout of Nato troops from Afghanistan. The expiry of Russia's current 10-year base
Published 03 Sep, 2011 12:00am
Russia gets base deal

Russia gets base deal

Russia agreed with Tajikistan on Friday to extend the deployment of its military base in the country, a move likely to boost Moscow's influence in Central Asia after the pullout of Nato troops from Afghanistan. The expiry of Russia's current 10-year base
Published 03 Sep, 2011 12:00am
Pakistan backs revival of Eurasian corridor: Zardari

Pakistan backs revival of Eurasian corridor: Zardari

Terming enhanced rail, road and air connectivity as key to regional development, President Asif Ali Zardari on Thursday said Pakistan sees great potential in the Eurasian corridor, and fully supports its revival.
Published 03 Sep, 2011 12:00am
Pakistan backs revival of Eurasian corridor: Zardari

Pakistan backs revival of Eurasian corridor: Zardari

Terming enhanced rail, road and air connectivity as key to regional development, President Asif Ali Zardari on Thursday said Pakistan sees great potential in the Eurasian corridor, and fully supports its revival.
Published 03 Sep, 2011 12:00am
Pakistan backs revival of Eurasian corridor: Zardari

Pakistan backs revival of Eurasian corridor: Zardari

Terming enhanced rail, road and air connectivity as key to regional development, President Asif Ali Zardari on Thursday said Pakistan sees great potential in the Eurasian corridor, and fully supports its revival.
Published 03 Sep, 2011 12:00am
WikiLeaks sparks fury with release of unredacted cables

WikiLeaks sparks fury with release of unredacted cables

Anti-secrecy website WikiLeaks published Friday its full archive of more than 250,000 US diplomatic cables unredacted and easily accessible online, drawing a furious response from its media partners. The website confirmed in a message on its Twitter accou
Published 03 Sep, 2011 12:00am
WikiLeaks sparks fury with release of unredacted cables

WikiLeaks sparks fury with release of unredacted cables

Anti-secrecy website WikiLeaks published Friday its full archive of more than 250,000 US diplomatic cables unredacted and easily accessible online, drawing a furious response from its media partners. The website confirmed in a message on its Twitter accou
Published 03 Sep, 2011 12:00am
WikiLeaks sparks fury with release of unredacted cables

WikiLeaks sparks fury with release of unredacted cables

Anti-secrecy website WikiLeaks published Friday its full archive of more than 250,000 US diplomatic cables unredacted and easily accessible online, drawing a furious response from its media partners. The website confirmed in a message on its Twitter accou
Published 03 Sep, 2011 12:00am
US regulator sues major banks over mortgages

US regulator sues major banks over mortgages

A US regulator sued a number of major banks on Friday over losses on more than $41 billion in subprime mortgage bonds, which may hamper a broader government mortgage settlement with banks The lawsuits by the Federal Housing Finance Agency, which oversees
Published 03 Sep, 2011 12:00am
US regulator sues major banks over mortgages

US regulator sues major banks over mortgages

A US regulator sued a number of major banks on Friday over losses on more than $41 billion in subprime mortgage bonds, which may hamper a broader government mortgage settlement with banks The lawsuits by the Federal Housing Finance Agency, which oversees
Published 03 Sep, 2011 12:00am
US regulator sues major banks over mortgages

US regulator sues major banks over mortgages

A US regulator sued a number of major banks on Friday over losses on more than $41 billion in subprime mortgage bonds, which may hamper a broader government mortgage settlement with banks The lawsuits by the Federal Housing Finance Agency, which oversees
Published 03 Sep, 2011 12:00am
Three troops killed in Indian firing

Three troops killed in Indian firing

The Army said on Thursday that Indian occupation forces fired at a border post in the held Kashmir, killing three of its troops. India said one of its officers was killed. The incident occurred Tuesday night in the Neelam Valley at the Line of Control, wh
Published 03 Sep, 2011 12:00am
Three troops killed in Indian firing

Three troops killed in Indian firing

The Army said on Thursday that Indian occupation forces fired at a border post in the held Kashmir, killing three of its troops. India said one of its officers was killed. The incident occurred Tuesday night in the Neelam Valley at the Line of Control, wh
Published 03 Sep, 2011 12:00am
Austria uncovers new human trafficking ring

Austria uncovers new human trafficking ring

Austrian police stopped over 50 illegals from Afghanistan, India, Pakistan and Iraq, bringing to five the number of smuggling rings uncovered in just over a week, authorities said Wednesday. A Hungarian driver was stopped Tuesday during a routine border c
Published 03 Sep, 2011 12:00am
Austria uncovers new human trafficking ring

Austria uncovers new human trafficking ring

Austrian police stopped over 50 illegals from Afghanistan, India, Pakistan and Iraq, bringing to five the number of smuggling rings uncovered in just over a week, authorities said Wednesday. A Hungarian driver was stopped Tuesday during a routine border c
Published 03 Sep, 2011 12:00am
US issues 9/11 travel alert to Americans

US issues 9/11 travel alert to Americans

The US State Department on Friday issued a world-wide travel alert ahead of the 10th anniversary of the 9/11 attacks, calling on Americans living and travelling abroad to remain vigilant. The department said it had not identified any "specific threats" ab
Published 03 Sep, 2011 12:00am
US issues 9/11 travel alert to Americans

US issues 9/11 travel alert to Americans

The US State Department on Friday issued a world-wide travel alert ahead of the 10th anniversary of the 9/11 attacks, calling on Americans living and travelling abroad to remain vigilant. The department said it had not identified any "specific threats" ab
Published 03 Sep, 2011 12:00am
Libya's leaders order provincial fighters out of Tripoli

Libya's leaders order provincial fighters out of Tripoli

Libya's new leaders have called on fighters from elsewhere in the country to leave the capital and go home, interim interior minister Ahmed Darrad told AFP on Friday. "Tripoli is free and everyone should leave this town and go back to their own towns," he
Published 03 Sep, 2011 12:00am
Libya's leaders order provincial fighters out of Tripoli

Libya's leaders order provincial fighters out of Tripoli

Libya's new leaders have called on fighters from elsewhere in the country to leave the capital and go home, interim interior minister Ahmed Darrad told AFP on Friday. "Tripoli is free and everyone should leave this town and go back to their own towns," he
Published 03 Sep, 2011 12:00am
India's West Bengal becomes 'Paschim Banga'

India's West Bengal becomes 'Paschim Banga'

The Indian state of West Bengal will now be known as "Paschim Banga" after state lawmakers voted unanimously in favour of the name change on Friday, despite some high-profile opposition. The state becomes the latest in a long list of Indian places to have
Published 03 Sep, 2011 12:00am
India's West Bengal becomes 'Paschim Banga'

India's West Bengal becomes 'Paschim Banga'

The Indian state of West Bengal will now be known as "Paschim Banga" after state lawmakers voted unanimously in favour of the name change on Friday, despite some high-profile opposition. The state becomes the latest in a long list of Indian places to have
Published 03 Sep, 2011 12:00am
Wall Street cash shifts to Romney from Obama

Wall Street cash shifts to Romney from Obama

Wall Street money is heavily favouring Republican presidential candidate Mitt Romney in the race to unseat President Barack Obama, the latest signal of business unease with Obama's tenure and perhaps a bet on his re-election chances. Romney, a co-founder
Published 03 Sep, 2011 12:00am
Wall Street cash shifts to Romney from Obama

Wall Street cash shifts to Romney from Obama

Wall Street money is heavily favouring Republican presidential candidate Mitt Romney in the race to unseat President Barack Obama, the latest signal of business unease with Obama's tenure and perhaps a bet on his re-election chances. Romney, a co-founder
Published 03 Sep, 2011 12:00am
KSE saw outflow of $31.264 million in two months

KSE saw outflow of $31.264 million in two months

An outflow of $31.264 million of foreign investors' portfolio investment (FIPI) was witnessed from the Pakistan equity market during the first two months (July-August) of current fiscal year. "The foreign investors remained on the selling side during the
Published 03 Sep, 2011 12:00am
KSE saw outflow of $31.264 million in two months

KSE saw outflow of $31.264 million in two months

An outflow of $31.264 million of foreign investors' portfolio investment (FIPI) was witnessed from the Pakistan equity market during the first two months (July-August) of current fiscal year. "The foreign investors remained on the selling side during the
Published 03 Sep, 2011 12:00am
KSE saw outflow of $31.264 million in two months

KSE saw outflow of $31.264 million in two months

An outflow of $31.264 million of foreign investors'' portfolio investment (FIPI) was witnessed from the Pakistan equity market during the first two months (July-August) of current fiscal year. "The foreign investors remained on the selling side during the
Published 03 Sep, 2011 12:00am
Rare US quake jolted nuclear waste at atomic plant

Rare US quake jolted nuclear waste at atomic plant

A rare earthquake on America's east coast last month caused half the radioactive waste containers at a nuclear plant to move several centimeters but they were not damaged, operators said Thursday. Of the 53 giant containers storing waste at North Anna pow
Published 03 Sep, 2011 12:00am
Rare US quake jolted nuclear waste at atomic plant

Rare US quake jolted nuclear waste at atomic plant

A rare earthquake on America's east coast last month caused half the radioactive waste containers at a nuclear plant to move several centimeters but they were not damaged, operators said Thursday. Of the 53 giant containers storing waste at North Anna pow
Published 03 Sep, 2011 12:00am
China curbs Iran energy work

China curbs Iran energy work

Beijing shunned US requests to rein in energy investment in Iran, said the congressional aide. But that changed, echoing a broader Chinese effort to douse down tensions with Washington. "They have essentially put out the word, 'Hold off'," he said. "The t
Published 03 Sep, 2011 12:00am
China curbs Iran energy work

China curbs Iran energy work

Beijing shunned US requests to rein in energy investment in Iran, said the congressional aide. But that changed, echoing a broader Chinese effort to douse down tensions with Washington. "They have essentially put out the word, 'Hold off'," he said. "The t
Published 03 Sep, 2011 12:00am
Zardari woos China's business giants

Zardari woos China's business giants

President Asif Ali Zardari has invited China's industrial giants and large business groups and companies to take benefit from Pakistan's investment-friendly and incentives-driven policies by investing in diverse fields, particularly in energy, infrastruct
Published 03 Sep, 2011 12:00am
Pakistan and Tajikistan to enhance cooperation in various fields

Pakistan and Tajikistan to enhance cooperation in various fields

Pakistan and Tajikistan have expressed determination to enhance friendship and partnership to the new heights through increased co-operation in diverse fields including trade and economy, infrastructure, communication, energy, agriculture, health, culture
Published 03 Sep, 2011 12:00am
Umrah pilgrims: efforts being made to help stranded Pakistanis

Umrah pilgrims: efforts being made to help stranded Pakistanis

Counsel General of Pakistan Abdul Salik Khan said on Thursday that all efforts were being made to send back around 150 persons who had been stranded at Jeddah Airport. Salik Khan said these people had since been shifted to hotels and were being provided p
Published 03 Sep, 2011 12:00am
Boys abduction: Army looking into reports

Boys abduction: Army looking into reports

The army has been looking into reports which claim that Taliban militants kidnapped around 30 Pakistanis boys who had crossed the border into Afghanistan mistakenly. An official said they were looking into the details so it was too early to comment on the
Published 03 Sep, 2011 12:00am
Hoti announces Rs 50 million for Swabi uplift

Hoti announces Rs 50 million for Swabi uplift

Khyber Pakhtunkhwa Chief Minister Ameer Haider Khan Hoti has announced Rs 50 million for development works at PK-34 Swabi-4 and assured to utilise all available resources for the socio-economic uplift of poor masses.
Published 03 Sep, 2011 12:00am
Power shortfall reduces on third day of Eid

Power shortfall reduces on third day of Eid

Power shortfall reduced on third day of Eid to 2093MW Friday from 4102MW a day earlier due to torrential rains across the province of Sindh. Demand for power came down to 14236MW from 18290MW. The power generation also registered a decline of about 2000MW
Published 03 Sep, 2011 12:00am
Gilani, Shahbaz exchange Eid greetings

Gilani, Shahbaz exchange Eid greetings

Chief Minister Punjab Mian Shahbaz Sharif made a telephone call to Prime Minister Syed Yusuf Raza Gilani on Thursday and extended Eid greetings to him and his family. The two leaders also discussed matters of mutual interest.
Published 03 Sep, 2011 12:00am
Two boys drown in a ditch

Two boys drown in a ditch

Two boys drowned in a ditch filled with rainwater near here on Thursday. Reportedly, Asif (10) and his cousin Asim (8) were taking a bath in a pond located at Lohianwala when they went into deep water and drowned. Locals fished out the bodies from the pon
Published 03 Sep, 2011 12:00am
Prime Minister strongly condemns Lakki Marwat blast

Prime Minister strongly condemns Lakki Marwat blast

Prime Minister Syed Yusuf Raza Gilani on Thursday strongly condemned bomb blast in Lakki Marwat which resulted in loss of lives and injuries to more than a dozen people. The Prime Minister expressed deep sorrow and grief over the loss of precious lives. H
Published 03 Sep, 2011 12:00am
12 killed in Quetta explosion

12 killed in Quetta explosion

Twelve persons including three women were killed and more than 20 injured in an explosion here on Eid day. According to CCPO Ahsan Mahbub it was a suicide attack and the suicide bomber wanted to hit explosive-laden vehicle with Eidgah. In the meanwhile an
Published 03 Sep, 2011 12:00am
Rehman for setting up of PCOs in jails

Rehman for setting up of PCOs in jails

Interior Minister Rehman Malik on Friday said that he would propose setting up of public call offices (PCOs) in jails to enable the prisoners to contact their family members. The Minister was talking to mediapersons after a visit to Central Prison Karachi
Published 03 Sep, 2011 12:00am
Defence Day programmes finalised

Defence Day programmes finalised

All necessary arrangements have been finalised for celebrating Defence Day of Pakistan with national spirit and usual enthusiasm in Sialkot district on September 6. The daylong programmes would be started with special prayers for the unity, prosperity and
Published 03 Sep, 2011 12:00am
International rates' decline: local producers asked to slash LPG price

International rates' decline: local producers asked to slash LPG price

The international price of liquefied petroleum gas (LPG) has declined by $27.50 to $842.50 per ton for September 2011, and local producers must reduce LPG price by Rs 2500 per ton immediately. This was stated by the acting chairman of All Pakistan LPG Dis
Published 03 Sep, 2011 12:00am
Marvi Memon writes letter to Chief Justice over water security

Marvi Memon writes letter to Chief Justice over water security

Marvi Memon has written a letter to the Chief Justice regarding water security here on Friday. Following is the text: Honourable Chief Justice Sahib, Water Security is critical and any efforts, which show negligence and incompetence on behalf of the gover
Published 03 Sep, 2011 12:00am
Heavy rains: Nawabshah declared calamity-hit district

Heavy rains: Nawabshah declared calamity-hit district

Chief Minister Sindh, Syed Qaim Ali Shah, has declared district Shaheed Benazirabad (Nawabshah) as calamity hit after heavy rains lashed the city during the past two days. The Chief Minister visited Nawabshah on Thursday where he announced a grant of Rs 2
Published 03 Sep, 2011 12:00am
Qaim visits Bhutto family's graveyard

Qaim visits Bhutto family's graveyard

Sindh Chief Minister, Syed Qaim Ali Shah, on second day of Eid-ul-Fitr visited the graves of the martyrs of Bhutto family in Garhi Khuda Bakhsh. He went to the grave of the assassinated PPP Chairperson Shaheed Mohtarma Benazir Bhutto, laid a floral wreath
Published 03 Sep, 2011 12:00am
Malik visits slain Aamir Shah's residence

Malik visits slain Aamir Shah's residence

Federal Minister for Interior A Rehman Malik on Thursday visited the residence of slain Pakistan Peoples Party (PPP) leader and chairman of Peoples Unity, Aamir Shah, in Gulistan-e-Jauher and condoled with the family over his demise and announced to provi
Published 03 Sep, 2011 12:00am
CDGK awaits funds for erecting pedestrian bridges

CDGK awaits funds for erecting pedestrian bridges

City District Government Karachi (CDGK) has initiated construction and onward installation of pedestrian bridges across the city. However, of 320 planned pedestrian bridges, just a faction of 79 pedestrian bridges in the main city areas has been completed
Published 03 Sep, 2011 12:00am
Met office releases rain advisory for farmers

Met office releases rain advisory for farmers

The met office has advised the farmers to irrigate their crops as per need as rainfall is expected in the cotton belt of the country in the first 10 days of September. "Due to the less rainfall, expected in the cotton-belt, farmers are advised to irrigate
Published 03 Sep, 2011 12:00am
Making new provinces will not weaken Pakistan: Gilani

Making new provinces will not weaken Pakistan: Gilani

Prime Minister Yousaf Raza Gilani has said that making new provinces will not weaken Pakistan. Speaking to media persons here, he said, "In future we will also have coalitions." He added that the PML-N itself parted ways with the coalition government. He
Published 03 Sep, 2011 12:00am
Children's Literature Festival from September 25

Children's Literature Festival from September 25

The Idara-e-Taleem-o-Agahi (ITA) and Oxford University Press (OUP) in collaboration with the Foundation Open Society Institute, Pakistan, are organising a two-day Children's Literature Festival (CLF) for the children of Lahore at Children's Library Comple
Published 03 Sep, 2011 12:00am
Levying of tax on agriculture tube wells criticised

Levying of tax on agriculture tube wells criticised

Agri Forum Pakistan Chairman, Muhammad Ibrahim Mughal has alleged that the government has levied Sales Tax through electricity bills for agricultural tube wells, which will put a financial burden of rupees six on the growers of Pakistan. Mughal severely c
Published 03 Sep, 2011 12:00am
Seven killed, four injured in road accident

Seven killed, four injured in road accident

At least seven people were killed and four others were injured when a bus crashed into a car and a truck on Sargodha Road near here on Thursday. According to details, a speeding bus (FSA-5070) hit a car (LEA-5869) and a truck (FDY-3793) near Kamal Pur Pat
Published 03 Sep, 2011 12:00am
Performance of Lahore Police on Eid acknowledged

Performance of Lahore Police on Eid acknowledged

Capital City Police Officer, Ahmad Raza Tahir has appreciated the efficient services of the city's police and applauded them for their performance on Eid-ul-Fitr in order to ensure peaceful and dignified celebrations on the festive occasion. CCPO said tha
Published 03 Sep, 2011 12:00am
Veteran journalist Sohail Zafar dies

Veteran journalist Sohail Zafar dies

Veteran PTV newscaster and journalist Sohail Zafar died of heart attack on Thursday. He was 69. He left behind three sons, a daughter and a widow. He was buried in Johar town graveyard the same day while his Quls were held on Friday afternoon.
Published 03 Sep, 2011 12:00am
PARB funding project to tackle aphid attack on wheat crop

PARB funding project to tackle aphid attack on wheat crop

The Punjab Agricultural Research Board (PARB) is funding a project "Integrated Pest Management (IPM) of Aphids on Wheat Crop" aimed at developing Best Agricultural Practices (BAP) including agronomic and bio-control agents to tackle the problem of Aphid a
Published 03 Sep, 2011 12:00am
Eid-ul-Fitr: counterfeit cosmetic sellers' business shines

Eid-ul-Fitr: counterfeit cosmetic sellers' business shines

The sale of counterfeit cosmetics remained on the rise in most of the markets in the provincial metropolis on the eve of Eid-ul-Fitr, thus depriving the national exchequer of huge amount of revenue on account of General Sales Tax and Excise Duty.
Published 03 Sep, 2011 12:00am
CJP spends Eid day with public

CJP spends Eid day with public

Chief Justice of Pakistan, Justice Iftikhar Muhammad Chaudhry spent Eid-ul-Fitr here. He offered Eid prayer at Data Darbar Mosque. Later, he met the commoners and the elite of the city there.
Published 03 Sep, 2011 12:00am
Shahbaz meets Pak-Turk Foundation team

Shahbaz meets Pak-Turk Foundation team

Punjab Chief Minister Shahbaz Sharif here on Friday met with the delegation of Pak-Turk Education Foundation and Pak-Turk Businessmen Association discussing co-operation and establishment of mutual projects on the occasion. Punjab CM on the occasion, stat
Published 03 Sep, 2011 12:00am
PML-N would steer country out of crisis: Shahbaz

PML-N would steer country out of crisis: Shahbaz

Punjab Chief Minister Shahbaz Sharif here on Eid Day meeting party workers has vowed to clear the nation of menace of corruption. He said nation was facing crisis of energy, unemployment and terrorism. He said honesty and dedication were the ways to stabi
Published 03 Sep, 2011 12:00am
FBR needs to upgrade its representatives

FBR needs to upgrade its representatives

According to a Business Recorder exclusive the Deputy Attorney General of Pakistan (Karachi) has written a letter to the Chairman of the Federal Board of Revenue (FBR) lamenting the 'casual attitude' of Departmental Representatives (DRs) while plea
Published 03 Sep, 2011 12:00am
Bloodbath in Jamrud

Bloodbath in Jamrud

The suicide bombing at a Friday congregation in Khyber Agency's Jamrud district left at least 47 people dead and more than 80 injured - the death toll since has climbed with some of the victims succumbing to their injuries in the hospital. A similar terro
Published 03 Sep, 2011 12:00am
Dengue epidemic

Dengue epidemic

Dengue fever has assumed epidemic proportions in Punjab. A provincial health department official disclosed on Wednesday that 86 new patients had tested positive for the virus in Lahore and 12 in other districts, bringing the total number of reported dengu
Published 03 Sep, 2011 12:00am
The economic dilemma of farmers

The economic dilemma of farmers

All the nonsense about climate change and the various fora at which these were discussed the advice was 'do something about it'. It is like saying what to do without the ability to do it. Pakistan's farmers are facing a serious dilemma in as much as the e
Published 03 Sep, 2011 12:00am
WikiLeaks data debacle: when transparency becomes a threat

WikiLeaks data debacle: when transparency becomes a threat

WikiLeaks' goal was to make the world better, more transparent. But nine months after the spectacular release of more than 250,000 cables culled from US embassies the world over, transparency has taken on a new meaning for more than 100 informants who wor
Published 03 Sep, 2011 12:00am
Home extension is a fast solution to alleviating housing shortage

Home extension is a fast solution to alleviating housing shortage

Pakistan with a population of over 170 million, has the highest birth rate in the South Asian region, and is currently the 6th most populous country in the world. With this rapid population growth, the country is facing a serious housing deficit, which ha
Published 03 Sep, 2011 12:00am
Mirza's salvo

Mirza's salvo

Minister Mirza, now with the Holy Book over his head, and his fellow Minister Malik have escalated the ante in their little un-funny Laurel and Hardy mutual pot-shot act. What one is watching on the visual media could well be described as the pot throwing
Published 03 Sep, 2011 12:00am
Documentary: last-minute doubts on bin Laden raid

Documentary: last-minute doubts on bin Laden raid

A new documentary reveals that a last-minute double-check of intelligence before the raid that killed Osama bin Laden last spring cast fresh doubt on whether the al Qaida leader was really in the Pakistani compound where he was found. The History network,
Published 03 Sep, 2011 12:00am
Karachi situation: Mirza appeals to Army Chief for intervention

Karachi situation: Mirza appeals to Army Chief for intervention

Dr Zulifqar Mirza, former senior minister of Sindh and Vice President PPP Sindh, has appealed to Army Chief General Ahfaq Pervaiz Kayani to intervene and protect innocent people of Karachi from the target killers of Muttahida Qaumi Movement (MQM). He said
Published 03 Sep, 2011 12:00am
Navy officer among seven killed in Karachi

Navy officer among seven killed in Karachi

There is no respite in the spree of targeted killings during Eid festival as seven persons including a navy officer and an activist of Pakistan Peoples Party (PPP) were killed in various parts of the metropolis during last three days of Eid-ul-Fitr.
Published 03 Sep, 2011 12:00am
US MIDDAY: gold jumps three percent

US MIDDAY: gold jumps three percent

Gold surged nearly 3 percent on Friday, hitting its highest level since last week's record, as investors sought refuge in safe haven assets following a bleak US labour market report. Some investors viewed the lack of jobs growth in August as a sign the wo
Published 03 Sep, 2011 12:00am
US MIDDAY: copper falls

US MIDDAY: copper falls

Copper fell on Friday after poor US jobs data for August fuelled concerns about the health of the world's top economy while the threat of kinks in a constrained supply pipeline provided a floor for prices. In New York, the key December COMEX copper contra
Published 03 Sep, 2011 12:00am
US MIDDAY: corn and soya up

US MIDDAY: corn and soya up

US corn and soyabean futures rose early on Friday as buyers remained concerned that persistent hot and dry conditions will reduce crop yields in the Midwest and further diminish already tight domestic stocks. At 12:15 pm CDT (1715 GMT), CBOT December corn
Published 03 Sep, 2011 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose to a 1-1/2 week high on Friday as investors sought refuge in safe haven assets after a disappointing labour market report from the United States added to mounting fears about the pace of recovery in the world's largest economy. Non-farm payrolls
Published 03 Sep, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold prices held steady on Friday as investors stood on the sidelines ahead of a key US payrolls report due later in the day, after recent data sent mixed signals about the status of the world's largest economy. Spot gold edged up 0.3 percent to $1,829.21
Published 03 Sep, 2011 12:00am
Gold mixed in US

Gold mixed in US

Gold was mildly mixed by the close on Thursday, with many investors reluctant to take their positions in the precious metal too far in either direction a day ahead of key US employment figures. Spot gold was up slightly at $1,824.40 an ounce by 4:23 pm ED
Published 03 Sep, 2011 12:00am
Coffee pares losses, sugar falls

Coffee pares losses, sugar falls

Arabica coffee futures finished lower on Friday, pressured along with the commodity complex by flat US jobs growth, but losses were pared by momentum from the previous 18 straight days of session highs. Raw sugar also was pressured by the US employment re
Published 03 Sep, 2011 12:00am
US grains lower

US grains lower

US corn and wheat futures posted their biggest drops in two months of nearly four percent on Thursday as traders locked in profits from strong monthly gains ahead of a long holiday weekend. A firm dollar, which crimped demand on the export market, as well
Published 03 Sep, 2011 12:00am
Malaysian palm oil gains

Malaysian palm oil gains

Malaysian palm oil futures rose 1.4 percent on Friday, boosted by gains in other vegetable oils while the market was closed for a holiday, but worries about the health of the global economy put a cap on prices. At the close, the benchmark November crude p
Published 03 Sep, 2011 12:00am
Tokyo, Shanghai rubber fall

Tokyo, Shanghai rubber fall

Key Tokyo rubber futures fell on Friday, tracking weaker oil as investors worried about the European economy and awaited key US jobs data later in the day for clues on the US economy. The key Tokyo Commodity Exchange rubber contract for February delivery
Published 03 Sep, 2011 12:00am
World oil falls

World oil falls

Oil fell on Friday as stalled US job growth in August rekindled worries of another will be recession, which would slow fuel demand. Pressure from the jobs data more than offset support from oil companies shutting down nearly half of the crude production i
Published 03 Sep, 2011 12:00am
Copper stumbles

Copper stumbles

Copper fell on Friday after poor US jobs data for August fuelled concerns about the health of the world's top economy while the threat of kinks in a constrained supply pipeline provided a floor for prices. Benchmark copper on the London Metal Exchange clo
Published 03 Sep, 2011 12:00am
Shanghai copper down

Shanghai copper down

The most-active November copper contract on the Shanghai Futures Exchange fell 0.5 percent to close at 67,830 yuan per tonne on Friday, after falling 0.3 percent on Thursday. It rose 0.6 percent for the week. "Copper trading is a bit directionless today a
Published 03 Sep, 2011 12:00am
US copper lower

US copper lower

Copper closed lower for the first time in seven days on Thursday as a drop in new export orders in China and weakened manufacturing activity in Europe deepened concerns over global demand prospects. In New York, the key December COMEX contract fell 4.40 c
Published 03 Sep, 2011 12:00am
New York cotton slightly up

New York cotton slightly up

Cotton futures finished with small gains on Friday on buying by small investors in lethargic trade before a holiday weekend, analysts said. The US cotton market will be shut on Monday for Labour Day. The key December cotton contract on ICE Futures US rose
Published 03 Sep, 2011 12:00am
Concern rising on Iran military nuclear work: IAEA

Concern rising on Iran military nuclear work: IAEA

The watchdog International Atomic Energy Agency is "increasingly concerned" about possible work in Iran to develop a nuclear payload for a missile, the IAEA said in a confidential report obtained by Reuters on Friday. The UN nuclear agency report said it
Published 03 Sep, 2011 12:00am
US indicts 56 Colombian 'submarine' drug traffickers

US indicts 56 Colombian 'submarine' drug traffickers

More than 50 members of Colombia's "Bandas Criminales" drug gangs have been indicted on US charges they used custom-built submarines to traffic tons of cocaine, US and Colombian officials said Friday.
Published 03 Sep, 2011 12:00am
Australian Prime Minister vows not to quit amid leadership speculation

Australian Prime Minister vows not to quit amid leadership speculation

Australian Prime Minister Julia Gillard vowed on Friday to battle on as leader of her unpopular government, dismissing media reports that some of her own lawmakers had lost faith in her after a fresh policy setback this week. Gillard, her face pale and dr
Published 03 Sep, 2011 12:00am
ANC rejects Malema bid to drop charges

ANC rejects Malema bid to drop charges

South Africa's ruling ANC on Friday rejected a request from its Youth League leader Julius Malema to drop disciplinary charges against him, allowing a hearing to proceed that could derail the career of the populist firebrand. Malema, who has galvanised th
Published 03 Sep, 2011 12:00am
Second plane this week skids off runway in India

Second plane this week skids off runway in India

A Turkish Airlines aircraft carrying 104 passengers skidded off the runway at Mumbai Airport on Friday, the second incident in a week to raise concerns that some Indian airports are over-stretched. Air traffic over India is on the rise as its fast-growing
Published 03 Sep, 2011 12:00am
Ladsous becomes head of UN peacekeeping

Ladsous becomes head of UN peacekeeping

The United Nations on Friday named Herve Ladsous of France as the new head of the huge UN peacekeeping operation. Ladsous, 61, is formerly a French ambassador in China and a foreign ministry spokesman. He takes the place of another French official, Alain
Published 03 Sep, 2011 12:00am
Turkey to host radar for Nato missile defence

Turkey to host radar for Nato missile defence

Turkey plans to deploy an early warning radar by the end of the year as part of Nato's missile defence system for Europe, officials said Friday. Leaders of the 28-member Nato alliance endorsed plans in Lisbon last year to launch a Europe-wide ballistic mi
Published 03 Sep, 2011 12:00am
Japan's Prime Minister picks cabinet, vows pragmatic reforms

Japan's Prime Minister picks cabinet, vows pragmatic reforms

Japan's new Prime Minister Yoshihiko Noda unveiled on Friday a government that will face the task of engineering an economic recovery without blowing a hole in its stretched finances, promising swift fiscal reforms but with an eye on growth. Noda, 54, the
Published 03 Sep, 2011 12:00am
Obama withdraws new air quality standards

Obama withdraws new air quality standards

US President Barack Obama on Friday withdrew a new set of draft air quality standards, arguing that their introduction would burden industry at a time of deep economic uncertainty. Obama, who will next week unveil a major new plan designed to revive the e
Published 03 Sep, 2011 12:00am
Strong quake hits Alaska, tsunami warning lifted

Strong quake hits Alaska, tsunami warning lifted

A strong 6.8-magnitude earthquake struck Alaska's Aleutian Islands early Friday, triggering a tsunami warning for the remote region that was later lifted, the US Geological Survey reported. The underwater quake occurred at 1:55 am (1055 GMT) some 80 miles
Published 03 Sep, 2011 12:00am
Space junk reaching 'tipping point,' report warns

Space junk reaching 'tipping point,' report warns

The amount of debris orbiting the Earth has reached "a tipping point" for collisions, which would in turn generate more of the debris that threatens astronauts and satellites, according to a US study released on Thursday. NASA needs a new strategic plan f
Published 03 Sep, 2011 12:00am
Kosovan confesses to shooting US airmen in Germany

Kosovan confesses to shooting US airmen in Germany

A 21-year-old Kosovo Albanian man confessed to shooting dead two US airmen and wounding two more at Frankfurt airport in March, telling a packed German court on Wednesday he was swayed by Islamist lies and could not undo what he had done. Arid Uka, who wo
Published 03 Sep, 2011 12:00am
Austrian priests defy Catholic Church, face showdown

Austrian priests defy Catholic Church, face showdown

Dissident Austrian priests defying their Catholic Church with calls for married clergy, women priests and other reforms enjoy wide public support, according to a new poll on a dispute that could lead to their dismissal. Three-quarters of people polled in
Published 03 Sep, 2011 12:00am
E Timor army chief resigns ahead of polls

E Timor army chief resigns ahead of polls

The head of East Timor's armed forces, Major General Taur Matan Ruak, said Friday he had resigned, ahead of a possible run for the presidency in elections next year. The veteran of East Timor's resistance struggle against Indonesia's occupation said that
Published 03 Sep, 2011 12:00am
Millions hit by heavy floods in north and eastern India

Millions hit by heavy floods in north and eastern India

Surging flood waters in northern and eastern India have affected millions of people, forcing many from their homes as swollen rivers wash away roads and make rescue work difficult, government and aid officials said on Friday. Aid workers said 5.2 million
Published 03 Sep, 2011 12:00am
Arrests made over alleged Berlusconi extortion

Arrests made over alleged Berlusconi extortion

Silvio Berlusconi faced renewed scandal on Thursday after a businessman linked to a 2009 prostitution case was arrested on suspicion of extorting hundreds of thousands of euros from the Italian prime minister. Giampaolo Tarantini, an entrepreneur from the
Published 03 Sep, 2011 12:00am
Thousands of Yemenis hold rival rallies

Thousands of Yemenis hold rival rallies

Hundreds of thousands of Yemenis staged rival rallies on Friday, with massive crowds demanding President Ali Abdullah Saleh step down and as many people turning out in support of the ailing leader. "The people want Ali Abdullah Saleh," pro-regime demonstr
Published 03 Sep, 2011 12:00am
Madonna's crown slips with mediocre movie reviews

Madonna's crown slips with mediocre movie reviews

Madonna may be the "queen of pop", but her crown as movie director slipped this week after most early reviews of her second feature film "W.E." ranged from middling to poor. The picture, which had its world premiere at the Venice film festival on Thursday
Published 03 Sep, 2011 12:00am
Halliburton hits BP with new oil-spill lawsuit

Halliburton hits BP with new oil-spill lawsuit

US oil-services giant Halliburton on Friday filed a new lawsuit against BP, the latest step in the battle over who takes blame and financial responsibility for last year's catastrophic oil spill in the Gulf of Mexico. "Halliburton... filed claims against
Published 03 Sep, 2011 12:00am
Former British finance minister attacks 'arrogant' bankers

Former British finance minister attacks 'arrogant' bankers

Britain's former finance minister Alistair Darling has attacked "arrogant and stupid" bankers in his new memoir of life during the most turbulent period of the financial crisis. Darling was particularly critical of some senior bankers, saying the former c
Published 03 Sep, 2011 12:00am
Lebanon Prime Minister ready to fund UN Hariri tribunal

Lebanon Prime Minister ready to fund UN Hariri tribunal

Lebanon will fund a UN-backed court that has charged Hezbollah operatives with the 2005 murder of ex-premier Rafiq Hariri, Prime Minister Najib Mikati said in comments published Friday. "Lebanon's interest lies in financing the Special Tribunal for Lebano
Published 03 Sep, 2011 12:00am
Won has best week in five months

Won has best week in five months

The South Korean won reported the best week in five months, leading weekly gains in most of its Asian peers, as hopes for the Federal Reserve's further steps to revive the ailing US economy lifted regional stocks, while investors were reluctant to make bi
Published 03 Sep, 2011 12:00am
Risk aversion sends Swiss franc higher versus euro, dollar

Risk aversion sends Swiss franc higher versus euro, dollar

The Swiss franc extended gains against the euro and the dollar on Friday as dismal euro zone data and little sign of action from the Swiss National Bank prompted safe-haven flows. Weak euro zone manufacturing data on Thursday compounded pessimism about th
Published 03 Sep, 2011 12:00am
Canadian dollar ends firmer ahead of US data

Canadian dollar ends firmer ahead of US data

The Canadian dollar ended the day slightly firmer against the US dollar in quiet trade on Thursday, even as concerns about global growth weighed on markets and investors awaited key US jobs data due out Friday. "Canada is closing a little bit stronger but
Published 03 Sep, 2011 12:00am
Sterling slips versus dollar

Sterling slips versus dollar

Sterling relinquished gains against the dollar on Friday as the US currency benefited from safe-haven demand after data showing US jobs growth at a standstill confirmed economic weakness and raised concerns about the global economic outlook The pound hit
Published 03 Sep, 2011 12:00am
Yuan down on strong dollar

Yuan down on strong dollar

China's yuan ended down slightly against the dollar by midday on Friday after the People's Bank of China set a weaker mid-point, reflecting the gains in the dollar against other currencies overnight. But dealers still expected further rises in the yuan in
Published 03 Sep, 2011 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened on Friday in cautious trade ahead of the US non-farm payrolls data, aided by local share gains, but dollar demand from oil importers limited the rise. The partially convertible rupee ended at 45.79/80 per dollar, 0.6 percent
Published 03 Sep, 2011 12:00am
Euro slips against major currencies in New York trade

Euro slips against major currencies in New York trade

The euro slipped against major currencies on Thursday, driven by data showing contraction in manufacturing in most euro zone countries, a day ahead of a key US jobs report that could add to market fears about recession. The pace of growth in the US manufa
Published 03 Sep, 2011 12:00am
Early trade in New York: dollar drops versus franc, yen

Early trade in New York: dollar drops versus franc, yen

The US dollar slid against the Swiss franc and yen on Friday as bleak jobs data raised expectations the Federal Reserve may soon embark on another round of bond-buying, a measure that could drag the dollar down further. The Swiss franc extended already im
Published 03 Sep, 2011 12:00am
Swiss franc soars in London

Swiss franc soars in London

The Swiss franc extended this week's impressive gains on Friday as concerns about the eurozone debt crisis and a gloomy economic outlook prompted fund investors to seek the safe-haven franc and test the Swiss National Bank's resolve. There was no sign of
Published 03 Sep, 2011 12:00am
Aussie, New Zealand dollars up

Aussie, New Zealand dollars up

The Australian and New Zealand dollars held onto hefty gains made against a bleeding euro on Monday amid uncertainties over the Greek bailout package, and paused on the greenback ahead of key US jobs data. The euro tumbled overnight by more than one perce
Published 03 Sep, 2011 12:00am
Euro steadies in Asia

Euro steadies in Asia

The euro steadied on Friday after a drubbing overnight on weak euro zone data, supported by talk that Asian sovereign players were buying the single currency to defend an option barrier. Some traders said the euro may trend lower in coming days, given gro
Published 03 Sep, 2011 12:00am
Euribor futures rally, markets eye 2011 ECB cuts

Euribor futures rally, markets eye 2011 ECB cuts

Eurozone interest rate futures extended their recent rally on Friday as investors increased their bets that weak growth in the region and globally would lead the European Central Bank to ease policy before year-end. Euribor futures rallied by around 8 tic
Published 03 Sep, 2011 12:00am
FTSE suffers sell-off

FTSE suffers sell-off

Britain's top share index fell sharply on Friday as few stocks survived a broad-based sell-off after data showed US jobs growth ground to a halt in August, heightening concerns the economy could fall into recession. Non-farm payrolls were unchanged, the U
Published 03 Sep, 2011 12:00am
European stocks knocked by dire US jobs data

European stocks knocked by dire US jobs data

European stocks tumbled on Friday, ending a four-day rally, after data showed US employment growth ground to a halt in August, rekindling fears that the world's largest economy is slipping into recession. The FTSEurofirst 300 index of top European shares
Published 03 Sep, 2011 12:00am
Hong Kong and Chinese shares down

Hong Kong and Chinese shares down

Hong Kong shares fell on Friday, snapping a four-day winning streak, as investors cut long positions in cyclical stocks ahead of US jobs data that are expected to provide clues on whether the Federal Reserve will take further action to support the economy
Published 03 Sep, 2011 12:00am
Seoul shares snap rally

Seoul shares snap rally

Seoul shares snapped a six-day rebound on Friday, with foreign investors turning net sellers ahead of a US labour market report, although the market posted a weekly gain. The Korea Composite Stock Price Index (KOSPI) ended down 0.69 percent to 1,867.75 po
Published 03 Sep, 2011 12:00am
US bonds climb

US bonds climb

The US Treasuries market rallied on Thursday as the latest jobs and factory data stoked fears of a dismal August payrolls report and bets the Federal Reserve will introduce more stimulus to avert a new recession. While some of the latest readings on the U
Published 03 Sep, 2011 12:00am
US bonds climb

US bonds climb

The US Treasuries market rallied on Thursday as the latest jobs and factory data stoked fears of a dismal August payrolls report and bets the Federal Reserve will introduce more stimulus to avert a new recession. While some of the latest readings on the U
Published 03 Sep, 2011 12:00am
Taiwan stocks end flat

Taiwan stocks end flat

Taiwan stocks ended flat on Friday, as losses in cement counters offset the gains in tourism shares. Banking shares were up 0.25 percent after Taiwan's financial regulator said it will ease restrictions on Taiwanese banks operating in China. The main TAIE
Published 03 Sep, 2011 12:00am
Wall Street falls

Wall Street falls

Wall Street's four-day rally ground to a halt on Thursday, with major indexes falling 1 percent on caution ahead of a key labour market report expected to underscore fears the economy is headed for another recession. Financials were the biggest losers, se
Published 03 Sep, 2011 12:00am
Nikkei slips back below 9,000

Nikkei slips back below 9,000

Japan's Nikkei stock average fell on Friday, slipping back below the 9,000 level as profit-taking emerged after six straight days of gains and ahead of a key US jobs report, while machinery stocks lost ground after weak capital spending data. After slidin
Published 03 Sep, 2011 12:00am
Australian shares end 1.5 percent weaker

Australian shares end 1.5 percent weaker

Australian shares closed 1.5 percent weaker on Friday as investors stayed on the sidelines ahead of the release of key US jobs data which some fear may provide a new signal that the American economy is headed for a recession. Miners and the major banks le
Published 03 Sep, 2011 12:00am
US job growth grinds to halt

US job growth grinds to halt

US employment growth ground to a halt in August as sagging confidence discouraged already skittish businesses from hiring, piling pressure on the Federal Reserve to provide more stimulus to aid the economy. Nonfarm payrolls were unchanged last month, the
Published 03 Sep, 2011 12:00am
AT&T prepares two-track plan to save T-Mobile deal

AT&T prepares two-track plan to save T-Mobile deal

AT&T Inc is expected to soon present a proposed solution to US antitrust regulators to salvage its planned $39 billion acquisition of smaller rival T-Mobile USA, according to people close to the matter. Even as the No 2 US wireless service provider gears
Published 03 Sep, 2011 12:00am
ECB steps up pressure on Italy as debt worries grow

ECB steps up pressure on Italy as debt worries grow

European Central Bank President Jean-Claude Trichet told Italy's struggling centre-right government to deliver on its promised austerity package, adding to international pressure on weakened premier Silvio Berlusconi. ECB support is vital because the Fran
Published 03 Sep, 2011 12:00am
LSE in talks to buy clearing house LCH

LSE in talks to buy clearing house LCH

The London Stock Exchange is in talks to buy its main clearing house LCH.Clearnet, a deal that could snatch the prized European asset from under the noses of data vendor Markit and exchange rival Nasdaq OMX. The LSE, which failed two months ago to buy Can
Published 03 Sep, 2011 12:00am
UK banks lobby government as ringfence hit looms

UK banks lobby government as ringfence hit looms

Barclays and other leading British banks have launched a last-ditch lobbying effort with the British government to try and fend off proposals to ringfence their retail operations, sources with knowledge of the matter said.
Published 03 Sep, 2011 12:00am
China's Wen says has confidence in euro

China's Wen says has confidence in euro

China retains confidence in the euro and Europe's economy but the region's governments need to ensure the security of Chinese investments there, Premier Wen Jiabao said on Friday. With about a quarter of China's record foreign currency reserves of $3.2 tr
Published 03 Sep, 2011 12:00am
TNK-BP, Gazprom lead Russia to record-high oil output

TNK-BP, Gazprom lead Russia to record-high oil output

Oil output in Russia, the world's top crude producer, hit a new post-Soviet high of 10.28 million barrels per day (bpd) in August on the back of production ramp-ups at TNK-BP and Gazprom, the Energy Ministry said on Friday. Overall crude production last m
Published 03 Sep, 2011 12:00am
India's factory output growth slows, export orders shrink

India's factory output growth slows, export orders shrink

India's factory sector expanded at its slowest pace in more than two years in August as export orders shrank amid weakening global demand, a survey of manufacturers in Asia's third-largest economy showed. Still, India was one of the few countries to show
Published 03 Sep, 2011 12:00am
Libya, Syria troubles add to crude tanker rate rout

Libya, Syria troubles add to crude tanker rate rout

The slow pace of resumption of Libyan crude exports and a European Union oil embargo on Syria are reducing prospects for a ship rate recovery this year in the smaller Mediterranean tanker market, analysts and brokers say. Aframax tankers on the Mediterran
Published 03 Sep, 2011 12:00am
Spain bond sale sees sluggish demand

Spain bond sale sees sluggish demand

Spain's first bond auction in a month drew lukewarm demand on Thursday, forcing it to pay a high premium to place 3.6 billion euros of new five-year paper despite European Central Bank support on secondary markets. The amount sold was just above the middl
Published 03 Sep, 2011 12:00am
Spain bond sale sees sluggish demand

Spain bond sale sees sluggish demand

Spain's first bond auction in a month drew lukewarm demand on Thursday, forcing it to pay a high premium to place 3.6 billion euros of new five-year paper despite European Central Bank support on secondary markets. The amount sold was just above the middl
Published 03 Sep, 2011 12:00am
Europe rejects IMF call for more bank capital

Europe rejects IMF call for more bank capital

European politicians on Thursday rejected an International Monetary Fund call for banks to raise up to 200 billion euros ($290 billion) in new capital, adding to fears that policymakers may be underestimating the severity of the debt crisis. IMF chief Chr
Published 03 Sep, 2011 12:00am
World factories falter, risking recession

World factories falter, risking recession

World factory output slowed in August as worries about the eurozone and US debt reduced confidence, heightening fears the global economy could sink back into recession. Manufacturing contracted in the eurozone for the first time in almost two years, echoi
Published 03 Sep, 2011 12:00am
US manufacturing grows slowly

US manufacturing grows slowly

US manufacturing unexpectedly grew in August and fewer Americans filed new claims for jobless aid last week despite a slump in confidence that threatened to push the economy back into recession. The Institute for Supply Management's index of national fact
Published 03 Sep, 2011 12:00am
Eurozone unemployment stays at 10 percent

Eurozone unemployment stays at 10 percent

The eurozone's unemployment rate was stuck at 10 percent in July, official figures showed on Wednesday, at a time of austerity and economic slowdown in the 17-nation single currency area. Eurostat, the European Union's statistics agency, also raised its J
Published 03 Sep, 2011 12:00am
Oil lifts eurozone producer prices

Oil lifts eurozone producer prices

Energy costs pushed eurozone producer prices up in July as Brent oil prices spiked, but overall inflation pressures were moderate, adding to economists' expectations the European Central Bank will keep rates on hold. Higher crude oil nudged prices up 0.5
Published 03 Sep, 2011 12:00am
Apple's China 'suppliers' under fire for pollution

Apple's China 'suppliers' under fire for pollution

A Chinese environmental group has said factories it believes are contracted to make Apple products are engaging in rampant pollution, and accused the US technology giant of turning a blind eye. Apple does not disclose its suppliers in China, but the Insti
Published 03 Sep, 2011 12:00am
Peugeot to re-enter Indian car market

Peugeot to re-enter Indian car market

French auto giant PSA Peugeot Citroen is to invest nearly $890 million to set up a factory in the western state of Gujarat for its re-entry into the Indian car market, a report said on Wednesday. The financial daily Mint said that the company would spend
Published 03 Sep, 2011 12:00am
Russian bailiffs raid BP Moscow office

Russian bailiffs raid BP Moscow office

Bailiffs Wednesday raided the offices of BP in Moscow, seeking documents on its failed deal with Rosneft, the latest chapter in the British energy giant's troubled history in Russia. The search came less than a day after Rosneft and ExxonMobil agreed a st
Published 03 Sep, 2011 12:00am
British supermarket giant Tesco exits Japan

British supermarket giant Tesco exits Japan

Britain's biggest retailer Tesco announced on Wednesday that it is pulling out of Japan after eight years and putting its 129 small supermarkets on sale to focus on other operations in Asia. "Tesco has today announced its decision to sell its business in
Published 03 Sep, 2011 12:00am
Japan's forex move exceeds four trillion yen

Japan's forex move exceeds four trillion yen

Japan sold 4.51 trillion yen ($59 billion) in August to stem the yen's rise against the dollar, the finance ministry said Wednesday. Market watchers say Tokyo only stepped in once during the month, making the move Tokyo's largest-ever currency interventio
Published 03 Sep, 2011 12:00am
Ukraine awards first shale gas contract to Shell

Ukraine awards first shale gas contract to Shell

Economically-struggling Ukraine radically altered its energy strategy Thursday, signing a massive shale gas deal with Anglo-Dutch giant Shell in hopes of reducing its dependence on Russia. The first contract of its kind puts Shell in a prime position to d
Published 03 Sep, 2011 12:00am
Target killers to be presented before media next week: Malik

Target killers to be presented before media next week: Malik

Interior Minister Rehman Malik has said that government will expose the arrested alleged target killers before the media next week to fulfil its commitment. "We do not want to lose our credibility and would definitely bring the killers before the media,"
Published 03 Sep, 2011 12:00am
US arrests Pakistani on terror support charges

US arrests Pakistani on terror support charges

A Pakistani man who received commando training from militants before moving to a Washington suburb has been arrested and charged with providing support to a terror group, US officials said Friday. Jubair Ahmad, 24, stands accused of providing material sup
Published 03 Sep, 2011 12:00am
Two killed, 18 injured in Lakki Marwat blast

Two killed, 18 injured in Lakki Marwat blast

At least two persons were killed, and 18 others sustained injuries in a car bomb blast that hit a police station at Paizo located in the vicinity of Lakki Marwat, private television channels reported on Thursday night. According to details, a car loaded w
Published 03 Sep, 2011 12:00am
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